Equinix Sees Unusually Large Options Volume (EQIX)

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Equinix Inc (NASDAQ:EQIX) was the recipient of some unusual options trading activity on Wednesday. Investors acquired 1,081 put options on the company. This is an increase of approximately 1,467% compared to the typical daily volume of 69 put options.

Shares of NASDAQ:EQIX traded down $1.48 during midday trading on Friday, reaching $490.28. The company’s stock had a trading volume of 250,184 shares, compared to its average volume of 527,191. Equinix has a fifty-two week low of $335.29 and a fifty-two week high of $494.00. The company has a market capitalization of $39.65 billion, a price-to-earnings ratio of 23.70, a P/E/G ratio of 1.68 and a beta of 0.89. The company has a debt-to-equity ratio of 1.25, a current ratio of 1.56 and a quick ratio of 1.56.

Equinix (NASDAQ:EQIX) last issued its earnings results on Wednesday, May 1st. The financial services provider reported $1.44 EPS for the quarter, missing analysts’ consensus estimates of $5.16 by ($3.72). Equinix had a net margin of 8.06% and a return on equity of 5.66%. The firm had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.35 billion. During the same period in the previous year, the firm earned $5.21 earnings per share. The business’s quarterly revenue was up 12.1% on a year-over-year basis. Analysts anticipate that Equinix will post 20.81 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 19th. Investors of record on Wednesday, May 22nd will be given a $2.46 dividend. This represents a $9.84 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date of this dividend is Tuesday, May 21st. Equinix’s payout ratio is 47.56%.

In related news, insider Michael Earl Campbell sold 1,085 shares of Equinix stock in a transaction that occurred on Tuesday, February 26th. The stock was sold at an average price of $426.53, for a total transaction of $462,785.05. Following the completion of the sale, the insider now directly owns 5,036 shares of the company’s stock, valued at approximately $2,148,005.08. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Karl Strohmeyer sold 1,135 shares of Equinix stock in a transaction that occurred on Tuesday, February 19th. The stock was sold at an average price of $426.96, for a total value of $484,599.60. The disclosure for this sale can be found here. In the last ninety days, insiders sold 18,143 shares of company stock worth $7,776,844. Insiders own 0.49% of the company’s stock.

A number of institutional investors have recently modified their holdings of EQIX. Eagle Boston Investment Management Inc. increased its holdings in Equinix by 1.1% during the 1st quarter. Eagle Boston Investment Management Inc. now owns 2,075 shares of the financial services provider’s stock worth $940,000 after purchasing an additional 23 shares in the last quarter. Thomas J. Herzfeld Advisors Inc. increased its holdings in Equinix by 27.9% during the 1st quarter. Thomas J. Herzfeld Advisors Inc. now owns 110 shares of the financial services provider’s stock worth $50,000 after purchasing an additional 24 shares in the last quarter. YorkBridge Wealth Partners LLC increased its holdings in Equinix by 15.5% during the 1st quarter. YorkBridge Wealth Partners LLC now owns 186 shares of the financial services provider’s stock worth $84,000 after purchasing an additional 25 shares in the last quarter. Taylor Frigon Capital Management LLC increased its holdings in Equinix by 1.2% during the 4th quarter. Taylor Frigon Capital Management LLC now owns 2,328 shares of the financial services provider’s stock worth $821,000 after purchasing an additional 27 shares in the last quarter. Finally, Eaton Vance Management increased its holdings in Equinix by 2.2% during the 4th quarter. Eaton Vance Management now owns 1,356 shares of the financial services provider’s stock worth $478,000 after purchasing an additional 29 shares in the last quarter. 98.76% of the stock is owned by institutional investors and hedge funds.

A number of equities analysts have commented on EQIX shares. Deutsche Bank raised their price objective on Equinix from $480.00 to $500.00 and gave the stock a “buy” rating in a research note on Thursday, May 9th. Citigroup raised their price objective on Equinix from $481.00 to $482.00 and gave the stock a “buy” rating in a research note on Friday, March 1st. BidaskClub upgraded Equinix from a “hold” rating to a “buy” rating in a research note on Thursday, May 9th. Royal Bank of Canada lifted their price target on Equinix from $500.00 to $520.00 and gave the company an “outperform” rating in a research note on Monday, May 6th. Finally, Zacks Investment Research lowered Equinix from a “buy” rating to a “hold” rating in a research note on Tuesday, April 16th. Two analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $501.44.

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Equinix Company Profile

Equinix, Inc (Nasdaq: EQIX) connects the world's leading businesses to their customers, employees and partners inside the most-interconnected data centers. In 52 markets across five continents, Equinix is where companies come together to realize new opportunities and accelerate their business, IT and cloud strategies.

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